Daily recommendations on major – USD/JPY
|Daily market outlook on major
Update Time: 23 Jun 2022 09:30GMT.
USD/JPY - 135.57
Dollar's intra-day selloff below 135.70 (Wednesday) on active buying in yen suggests long term uptrend has made a temporary top at yesterday's fresh 24-year peak at 136.71 and as 135.87 has capped recovery in Europe, consolidation with downside bias remains and below 135.14 would yield stronger retracement towards 134.93, break 134.75/80.
On the upside, only above 135.87 would signal pullback possibly over and yield stronger gain towards 136.30 but 136.71 should remain intact.
Data to be released on Wednesday
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.
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